Helichrysum italicum (Roth.) G. Don is an aromatic perennial shrub widespread across the Mediterranean Basin. Plants from this species show a high degree of morphological variability. This research examines morphological variation inside the H. italicum population growing in natural conditions and the correlation between observed morphological traits. Morphometric characteristics of shrub and synflorescence were measured on H. italicum plants from the wild population on the northwestern coast of Istria, at eight locations a short distance apart. Results showed significant variation in the plants’ height and diameter. Pearson’s correlation analysis showed a strong positive correlation between the diameter and height of the shrubs. Hierarchical cluster analysis (HCA) indicates that the observed plants are divided into two clades, based on characteristics measured. Principal component analysis (PCA) showed clear separation of the plants into two groups. Observed characteristics accounted for nearly 76% of the total variance.